Latest Ratios: P/E Ratio -0.7x · EV/EBITDA N/A · ROE -27.6%. (2018–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $318M | $430M | $629M | $1.9B | $2.0B | $2.2B | — | — | — |
| Enterprise Value | $3.3B | $3.4B | $5.4B | $7.3B | $7.1B | $6.5B | — | — | — |
| P/E Ratio → | -0.65 | — | — | 806.51 | 18.39 | 12.91 | — | — | — |
| P/S Ratio | 0.74 | 1.00 | 3.69 | 14.55 | 7.58 | 10.26 | — | — | — |
| P/B Ratio | 0.21 | 0.28 | 0.31 | 0.82 | 0.83 | 0.85 | — | — | — |
| P/FCF | — | — | 7.57 | 17.33 | 18.85 | 10.91 | — | — | — |
| P/OCF | — | — | 7.45 | 17.00 | 18.46 | 10.33 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 7.90 | 31.75 | 55.90 | 26.44 | 30.05 | — | — | — |
| EV / EBITDA | — | — | — | 62.13 | — | — | — | — | — |
| EV / EBIT | — | — | — | 41.15 | — | — | — | — | — |
| EV / FCF | — | — | 65.16 | 66.56 | 65.72 | 31.98 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | -86.9% | -86.9% | -28.6% | 61.9% | 100.0% | 100.0% | 100.0% | 100.0% | 83.2% |
| Operating Margin | -113.6% | -113.6% | -111.5% | 82.8% | — | — | 77.1% | 69.7% | 80.6% |
| Net Profit Margin | -113.6% | -113.6% | -129.6% | 4.6% | 41.5% | 79.3% | 75.6% | 67.6% | 78.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | -27.6% | -27.6% | -10.3% | 0.3% | 4.4% | 6.7% | 8.2% | 7.8% | 6.9% |
| ROA | -8.4% | -8.4% | -2.9% | 0.1% | 1.4% | 2.4% | 3.0% | 3.2% | 3.4% |
| ROIC | -6.5% | -6.5% | -2.0% | 1.1% | — | — | 2.7% | 3.0% | — |
| ROCE | -10.5% | -10.5% | -2.7% | 1.4% | — | — | 3.6% | 4.3% | 5.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.05 | 2.05 | 2.43 | 2.42 | 2.20 | 1.75 | 1.51 | 1.40 | 0.76 |
| Debt / EBITDA | — | — | — | 47.57 | — | — | 18.10 | 19.62 | 10.65 |
| Net Debt / Equity | — | 1.94 | 2.39 | 2.33 | 2.07 | 1.63 | 1.33 | 1.27 | 0.72 |
| Net Debt / EBITDA | — | — | — | 45.96 | — | — | 16.03 | 17.70 | 10.13 |
| Debt / FCF | — | — | 57.60 | 49.23 | 46.87 | 21.06 | 23.54 | 23.76 | 12.24 |
| Interest Coverage | -1.45 | -1.45 | -0.41 | 0.36 | — | — | 1.20 | 1.24 | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.80 | 1.80 | 21.87 | 16.89 | 15.74 | 7.55 | 5.64 | 7.06 | 2.58 |
| Quick Ratio | 1.80 | 1.80 | 21.87 | 16.89 | 15.74 | 7.55 | 5.64 | 7.06 | 2.58 |
| Cash Ratio | 0.08 | 0.08 | 0.33 | 0.43 | 0.63 | 0.34 | 0.35 | 0.36 | 0.05 |
| Asset Turnover | — | 0.09 | 0.02 | 0.02 | 0.03 | 0.03 | 0.04 | 0.04 | 0.04 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | 19.2% | 10.2% | 10.2% | 9.3% | — | — | — |
| Payout Ratio | — | — | — | 3188.3% | 185.7% | 120.2% | 108.7% | 109.9% | 83.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 0.1% | 5.4% | 7.7% | — | — | — |
| FCF Yield | — | — | 13.2% | 5.8% | 5.3% | 9.2% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.6% | 0.2% | 1.0% | 0.2% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 19.7% | 10.4% | 11.2% | 9.5% | — | — | — |
| Shares Outstanding | — | $141M | $139M | $139M | $139M | $135M | $141M | $141M | $141M |
Transitional loan credit impairment
According to recent market data, CMTG trades at a P/B ratio of 0.22, which significantly trails the broader mortgage REIT sector and suggests that investors are pricing in substantial permanent impairments to the underlying loan portfolio rather than a simple cyclical recovery in transitional real estate values.
The current valuation appears to reflect a market consensus that the firm's book value is overstated due to the high concentration of transitional office assets. Investors should monitor whether this discount narrows as the company resolves its non-accrual loans or if it persists as a permanent reflection of impaired capital.
As reported in financial statements, the company's NOI margin reached -30.1% in 2026Q1, a dramatic shift from the positive margins seen in 2025Q3, which indicates that the cost of credit provisions and financing is currently overwhelming the interest income generated by the remaining loan book.
This negative profitability profile suggests that the firm is struggling to maintain a viable spread between its cost of capital and the cash-on-cash yield of its collateral. The volatility in these margins warrants further investigation into whether the firm can achieve stabilization without further asset liquidations.
Based on reported figures, the debt-to-equity ratio of 2.05 in 2025Q4 appears deceptively low for a mortgage REIT, potentially obscuring the true extent of non-recourse financing or off-balance-sheet obligations that could exacerbate liquidity pressures during periods of portfolio stress.
The apparent deleveraging may be a byproduct of asset sales rather than a deliberate strengthening of the balance sheet. Analysts should remain cautious, as the interest coverage ratio of -4.92 in 2026Q1 suggests that the firm's ability to service its debt is currently compromised by its operational losses.
The most commonly misapplied metric for CMTG is the standard P/E ratio, which fails to account for the massive non-cash credit loss provisions that distort GAAP earnings and obscure the REIT's actual capacity to generate distributable cash flow from its performing loan portfolio.
Using P/E in this context is misleading because it treats non-cash impairments as recurring operational expenses, which masks the underlying cash-generating potential of the assets. Investors should instead focus on Adjusted FFO or Distributable Earnings to better understand the firm's true economic performance and dividend sustainability.
Includes 30+ ratios · 8 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying CMTG stock.
Claros Mortgage Trust, Inc.'s current P/E ratio is -0.7x. The historical average is 15.6x.
Claros Mortgage Trust, Inc.'s return on equity (ROE) is -27.6%. The historical average is -0.4%.
Based on historical data, Claros Mortgage Trust, Inc. is trading at a P/E of -0.7x. Compare with industry peers and growth rates for a complete picture.
Claros Mortgage Trust, Inc. has -86.9% gross margin and -113.6% operating margin.